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Actionable news in AMD: Advanced Micro Devices, Inc.,

Goldman analyst who nailed the AMD earnings plunge sees more downside for chipmaker

Wall Street firms rarely come out with sell ratings on the hottest performing stocks. It's even more infrequent for an analyst to get the bearish call right. Goldman's chip analyst Toshiya Hari did both.

Advanced Micro Devices shares opened down 14 percent at Tuesday's market open, a day after its guidance projected weaker-than-expected profits.

Hari on Tuesday reiterated his sell rating on AMD, citing the company's high valuation and aggressive expectations for its new products. On April 6, he initiated on the chip firm with a bearish rating and has one of only two sell ratings on the company out of 27...


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